 Later the seminary was known as Wawasee Prep until it closed its doors the summer of 1975.Today, the former hotel/seminary/prep school is a luxury condominium.Waco (Wawasee Amusement Company) was an entertainment hall constructed about 1910 and originally planned as a floating pavilion but this idea was abandoned and it was built on land and located in the Lakeview-South Park area just west of Black Stump Point.